New types of memory have demonstrated significant potential to compete with commonly utilized types of memory. For example, non-volatile magnetic random access memory with spin-induced switching (referred to herein as “MRAM”), resistive random access memory (referred to herein as “RRAM”), and phase change random access memory (referred here as PCRAM or PRAM) are considered as potential candidates for the next generation of memory. The ability of MRAM, RRAM and PCRAM to more effectively compete with established memory types, such as dynamic random access memory (DRAM), static random access memory (SRAM) and FLASH memory (NAND or NOR) can be maximized by increasing the density of memory components (a memory cell and its associated driving device) that are formed on a chip.